J Trust Bank Wins Award at The 12th IICD Corporate Governance Award Ceremony
Jakarta, May 31, 2021. J Trust Bank won in the “Best Right of Shareholders” category for middle market capitalization (MidCap) and was included in the “Top 50 MidCap Companies with the Best Corporate Governance Practices in Indonesia”. This award was given by the Indonesian Institute for Corporate Directorship (IICD) during The 12th IICD Corporate Governance Award ceremony.
The award winners are issuers who are considered to have implemented Good Corporate Governance (GCG) during the previous year and have not been involved in any cases that run contrary to GCG’s principles. In the midst of this pandemic, The 12th IICD Corporate Governance Award was held offline and adhered to strict health protocols.
Indonesia Institute for Corporate Directorship (IICD)
The Indonesia Institute for Corporate Directorship (IICD) is a non-profit organization founded by 10 leading universities and business schools. IICD is also the founder and member of the Institutes of Directors in the East Asia network (IDEA.net) which consists of the Institute of Directors in countries such as Indonesia, China, Hong Kong, Korea, Malaysia, the Philippines, Singapore, Thailand and Taiwan. This institution is highly credible and concerns itself with all matters related to corporate governance (CG).
In almost every activity, the IICD always cooperates with a variety of institutions, both national and international, such as the World Bank, International Finance Corporation, Global Corporate Governance Forum, Center for International Private Enterprise (CIPE), OECD, Asian Development Bank, Perbanas and Associations. Indonesian issuer. (Source: www.iicd.or.id)
The 12th IICD Corporate Governance Award 2021
On May 31, 2021, IICD held The 12th IICD Corporate Governance Awards offline at the Ballroom Financial Club Jakarta, adhering to strict health protocols. This event was held as an award ceremony for issuers who had implemented Good Corporate Governance (GCD) during the previous year and were not involved with any cases which ran contrary to the principles of GCG.
At the event Mr. Sigit Pramono, chairman of IICD, said that the IICD CG Award was given to issuers who had consistently run their companies amidst the difficulties of the Covid-19 pandemic.
“This award is given to issuers who are experiencing difficulties due to being in the midst of the Covid-19 pandemic but have still consistently run their companies with good governance,” said Mr. Sigit Pramono. (Source: www.beritasatu.com)
In addition, the 11th Vice President of the Republic of Indonesia and Chairman of the Advisory Board of the Indonesian Institute for Public Governance (IIPG) Mr. Boediono delivered closing remarks before the announcement for Best Overall BigCap & MidCap. He said that the current pandemic is a test for public health systems around the world. In addition, the pandemic has also changed business patterns for all sectors across the board.
During that occasion, Mr. Boediono also appreciated the IICD for holding The 12th IICD Corporate Governance Awards.
Still quoted from the beritasatu.com page, Mr. Boediono expressed his appreciation to the IICD for holding the award ceremony. “In a pandemic such as the one we are in currently, we really must not give up and must continue to innovate,” he said.
J Trust Bank Wins Best Right of Shareholders
During The 12th IICD Corporate Governance Awards, two groups will be assessed, namely 100 issuers with the largest market capitalization (BigCap) and 100 issuers with medium market capitalization (MidCap). Furthermore, the awards will be divided into 10 categories, namely:
- Best Financial Sector
- Best Right of Shareholders
- Best CG Overall
- Best Non-Financial Sector
- Best SOE/BUMN
- Best Equitable Treatment of Shareholders
- Best Role of Stakeholders
- Best Disclosure & Transparency
- Best Responsibility of the Boards
- Most Improved
To determine the winners, the assessment method was based on the ASEAN Corporate Governance Scorecard method for 200 issuers in Indonesia. This method has been established since 2011 and carried out by 10 qualified IICD assessors.
At the “The 12th IICD Corporate Governance Awards”, J Trust Bank won an award for the “Best Right of Shareholders” category for the middle market capitalization (MidCap) and was included in the “Top 50 MidCap Companies with Best Corporate Governance Practices in Indonesia”. Indonesia”. The award was received directly by the President Director of J Trust Bank, Ritsuo Fukadai.
As one of the conventional commercial banks listed on the Indonesia Stock Exchange, J Trust Bank understands the importance of implementing Good Corporate Governance. In line with receiving the award, J Trust Bank will continue to be committed to implementing GCG principles in providing its banking services. Consistently, the application of GCG principles will help generate sustainable long-term economic value for both shareholders and stakeholders.